How can I recover my huge (for me) loss | Forex Factory

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How can I recover my huge (for me) loss

  • #1
  • First Post: Jun 18, 2012 1:40pm Jun 18, 2012 1:40pm
hi all,

i started forex trading at mid of 2011. so far my loss is more than $5500. that is very very large amount for me.actually now i am bankrupt.

any one think can be recover such a loss within next year.

all ideas wellcome

thanks
  • #2
  • Jun 18, 2012 1:52pm Jun 18, 2012 1:52pm
Quoting sudathkg

hi all,

i started forex trading at mid of 2011. so far my loss is more than $5500.
Guess you should have held onto that Eur/Usd short


Quoting sudathkg

that is very very large amount for me.actually now i am bankrupt.
What, no money at all? No trading capital?


Quoting sudathkg

any one think can be recover such a loss within next year.

all ideas wellcome
Well you can't trade without any capital so that's out (not that it would have been a good idea anyway). How about getting a regular job with a regular salary and put away a few dollars every week?
  • #3
  • Jun 18, 2012 5:50pm Jun 18, 2012 5:50pm
Quoting sudathkg
hi all,

i started forex trading at mid of 2011. so far my loss is more than $5500. that is very very large amount for me.actually now i am bankrupt.

any one think can be recover such a loss within next year.

all ideas wellcome

thanks
find the system you like stick with it. go for demo for now at less 2 month to test if the system is work for you. if not move to another one.

after you feel right on the system. then go back on live
  • #4
  • Jun 18, 2012 6:12pm Jun 18, 2012 6:12pm
Quoting sudathkg
hi all,

i started forex trading at mid of 2011. so far my loss is more than $5500. that is very very large amount for me.actually now i am bankrupt.

any one think can be recover such a loss within next year.

all ideas wellcome

thanks
Sounds like you over leveraged yourself. Only you know how to recover from your loss. I've lost $5K between stock market and forex. I kept trucking and realized what I did wrong. What I know I did not do wrong is use all my capital to trade with. It sounds like you used your entire savings to trade with. That is almost a No. 1 rule of what not to do.

To answer your question, you start off all over again if you are not deveated, open a smaller account, trade with proper leverage, Dont over trade. You need to find it within yourself. Learn from your mistakes. It is going to be a long slow recovery if you do it right. If you try to do it fast, you are going to put yourself in worse position
Know when to hold em, Know when to fold em!
  • #5
  • Jun 19, 2012 1:09am Jun 19, 2012 1:09am
If you really want to do this then:
- read forexfactory ruthlessly
- buy and read trading books
- demo-trade for at least 1 year
- in the meantime, save up some cash (WHICH YOU CAN AFFORD TO LOSE AND DOESN'T HAVE ANY EMOTIONAL VALUE TO YOU)
- ask questions, discuss strategies and views
- do not touch real-money trading for at least 1 year

You said you are bankrupt. First off, start saving for your future again. Don't even think about trading again unless you are in sound financial shape.

Forex is not a get-rich-quick scheme. Nor will you become a millionaire in 1 year starting with 1k, 5k 10k or even 100k.

Forex is hard hard work. Just like anything else you want to master. If it were easy, wouldn't everybody be a millionaire from forex trading then ?

Wish you all the best and good luck
Twitter: @forexpokerpro
  • #6
  • Jun 19, 2012 1:39am Jun 19, 2012 1:39am
Quoting sudathkg
hi all,

i started forex trading at mid of 2011. so far my loss is more than $5500. that is very very large amount for me.actually now i am bankrupt.

any one think can be recover such a loss within next year.

all ideas wellcome

thanks
sell your body for $200 an hour. neutrality by buying euros

blahblah?

*************************

just keep trading. ignore everyone's opinion on trading.
  • #7
  • Jun 19, 2012 1:56am Jun 19, 2012 1:56am
Thanks for all who are gives VALUBLE advices for me.
i am decide to stick with paper trading atleast 6 month. in these period i will keep some money from my regular job.
I know i traded as a gambler. it will never happen again.
  • #8
  • Jun 19, 2012 2:13am Jun 19, 2012 2:13am
Quoting sudathkg
Thanks for all who are gives VALUBLE advices for me.
i am decide to stick with paper trading atleast 6 month. in these period i will keep some money from my regular job.
I know i traded as a gambler. it will never happen again.
great, do not rush it, good luck !
Twitter: @forexpokerpro
  • #9
  • Jun 19, 2012 11:17am Jun 19, 2012 11:17am
just get back when your down, keep learning...
  • #10
  • Jun 22, 2012 2:18pm Jun 22, 2012 2:18pm
Maybe the book "The Richest Man in Babylon" might help?
  • #11
  • Jun 22, 2012 2:57pm Jun 22, 2012 2:57pm
First learn to control your emotions, then trade meaningfully by fixed lots,stoploss,take profit, try to analyse the market correctly. Staying away is better than taking a doubtfull trade. enter only when you are confident about it. read market news and sentiments by traders who post.

This way you can increase your grip on forex. Good luck man.

Do not deposit money again and again, try to slowly increase your equity by trading,I hope you will recover your losses soon.
Believe in your thesis and stick to the plan, don't get scared with moves
  • #12
  • Jun 23, 2012 2:11am Jun 23, 2012 2:11am
Quoting sudathkg
hi all,

i started forex trading at mid of 2011. so far my loss is more than $5500. that is very very large amount for me.actually now i am bankrupt.

any one think can be recover such a loss within next year.

all ideas wellcome

thanks
If recovering your 5,500 is important then do no do it via forex. You will try probably with a much smaller amount and you will think that you will be "doing it right from now on".. but you will lose that as well.
Just write it off as a bad, bad idea and save a bit of your income every month. The money can be recovered - but not in forex, however the time wasted is gone forever and no one can make more time.
  • #13
  • Sep 29, 2012 6:02am Sep 29, 2012 6:02am
My suggestion, stop for a moment.
Do not touch anything about forex.
Take a vacation and forget your loss....

Until when??
"Until you forget that you have been loss... "

When you think that you are ready, thread it like a business.
Read this quote : http://www.forexfactory.com/showthre...26#post6006926
  • #14
  • Sep 29, 2012 6:00pm Sep 29, 2012 6:00pm
how to recover the loss?

asking your self how to ride the trend?
  • #15
  • Sep 29, 2012 11:56pm Sep 29, 2012 11:56pm
Stop trading and study more...Just watching the price without doing anything is a very good learning method ;-)
  • #16
  • Sep 30, 2012 2:13pm Sep 30, 2012 2:13pm
Quoting Supertrader9
Stop trading and study more...Just watching the price without doing anything is a very good learning method ;-)
Given your current situation, the advice listed here is the one you need to follow for the next few months. And no, it is not possible to recover any of the funds you have lost though in a few countries, you can claim rebate on account of this loss, when paying tax.
  • #17
  • Oct 1, 2012 9:30am Oct 1, 2012 9:30am
My suggestion is if you are under 18 you have concentrate on study first else go and play with demo account, learn from your mistakes on demo so you will get better idea that how to recover money on live after that Keep your eyes on euro/usd.
  • #18
  • Oct 1, 2012 10:11am Oct 1, 2012 10:11am
Quoting sudathkg
hi all,

i started forex trading at mid of 2011. so far my loss is more than $5500. that is very very large amount for me.actually now i am bankrupt.

any one think can be recover such a loss within next year.

all ideas wellcome

thanks
Stop trading manually. Otherwise this will likely happen again. Have a trading system that you can strictly follow. Learn how to script, BACKTEST YOUR SYSTEM over at least 4 years, and then trade it with small amounts at first (microlot account). After 6 months, slowly increase your margin.

Don't paper trade. If you don't know your trading performance already, you won't learn it this way, as any performance statistic from less than 2 years trading is random and meaningless.
  • #19
  • Oct 1, 2012 10:25am Oct 1, 2012 10:25am
A loss imho is a sign that your strategy is not working properly.

The best way for me to recover from a loss is:

1. Assess if you have accurately used your strategy. The best strategy is worthless if it hasn`t been executed on correctly and with proper risk management and discipline.

2a) If you have failed on executing it correctly, make the adjustments and
start executing on your strategy without mistakes on it.

2b) If you haven`t made any mistake in following your strategy, then it`s time to change your strategy. I`d recommend testing new strategies on a demo account. If it works out well for 3 months, switch to a live account.

3) View your loss as a teaching that helps you to make sure to be profitable in the future, get your head up and go on!
  • #20
  • Oct 1, 2012 10:26am Oct 1, 2012 10:26am
You have life insurance? Find a very high bridge and jump. Problem solved. Just kidding.

Sucks, but it is all part of the learning curve. Some hang in, some quite after this. Reality check.

Good luck.
Fuck Forex Factory.Wake up people.
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